[As readership increases, I try to increase the production value of my content. I spent $1500 on this video. Please enjoy. Thanks for watching and reading! Thanks to Charlie Slick for the music. "Money" is off his new album that hasn't been released yet. www.myspace.com/charlieslick. Also, thanks to Kelly, Mike, and Joey for getting this money in the air! ]
The whole idea of debt seems wrong to me. It’s wrong to consume or spend more than we have. With natural resources (land, water, food, oil, etc.), debt translates to consuming in a manner that is not sustainable, which means we will ultimately run out of natural resources altogether. With financial resources (money), debt means to incur a negative balance (or rather, imbalance). Both resources, natural and financial, are highly interconnected since the majority of us are consumers of natural resources and not producers. For example, we spend our money on food, instead of growing it ourselves. We buy a new house, instead of growing trees, cutting them down, and building it ourselves. This indirect consumption of natural resources often dispels the responsibility of the individual consumer’s actions and their environmental impact but that’s a whole other discussion…
My biggest concern with debt is that it impedes on our freedom- which is what a lot of us want, right?
I found it interesting that the following words define debt in the dictionary: owed, bound, liability, obligation, gambling, offense, sin. Words like “bound” certainly inhibit freedom.
Thinking of how one creates debt, I’ve found 3 major categories (that I can think of at the moment):
1. Consumer debt. This is debt incurred from the purchase of consumer goods and services. It includes food, water, shelter, and purchases that go beyond necessities (find out more at your local mall). The convenience of credit cards helps us extend this debt. [An interesting documentary film Maxed Out tackles issues of credit card debt in the U.S. In an extremely tragic case, a student highly indebted to a credit card company committed suicide.]
2. Loan debt. This is voluntary debt incurred from taking out a loan. Loans are taken out for a variety of purposes. Education loans, home mortgages, and business loans seem the most common.
3. Unfortunate circumstance debt. This is debt that can occur for reasons beyond your control. For example, you we’re in an accident without health insurance and now you will have to pay medical bills for the rest of your life. Or maybe you are responsible for the unfortunate debt: Like the time I received a $430 speeding ticket in Oregon during a road trip (true story, that kicked my bank account in the groin).
With this said, there are only a few things that I feel are worth consuming or spending money on: health (mostly good food), education, art, and travel. My current wages support my health, art, and some minor traveling. Unfortunately, I indebted myself, approximately $13,000, to government loans to support my education. [See my first post for more insight.]
BUT, THAT HAS CHANGED!
AND ALAS, THE REASON FOR THIS POST…
I HAVE MADE MY LAST PAYMENT ON MY STUDENT LOANS!!!
I HAVE FOUND MYSELF IN AN AWESOME POSITION: I have zero debt, little stress, I typically sleep 8-9 hours a day, I have a radical girlfriend, I have radical friends and family, I have 2 goldfish, a leopard gecko, and a Chihuahua, I love my job teaching film, I earn enough to pay my rent and minimal bills, I only work 15-20 hours a week and I don’t really have a boss, I have time to work on creative projects, I have time to exercise and take care of myself, and I have time to be happy.
Basically, I think I’m beginning to stumble upon what so many Americans talk about and fight for: FREEDOM. Well at least financial freedom…
The funny thing is it doesn’t take much money either. It felt like I made a lot of money last year… But after finishing my taxes, I realized I grossed approximately $10,000 which is just below the poverty line for 1 person at $10,830. (Poverty Line '09)
I don’t have things like cable TV, designer clothes, or a hover-board (which I really want btw), but by no means do I feel deprived of happiness… Okay, maybe I would be a little happier with a hover-board.
The standard of living and happiness doesn’t improve with an increase in income, but rather bad consumer habits increase. You buy more and more because you’re making more money. You adjust to higher lever of consumerism. Then the company goes bankrupt, or you get laid off, and cannot keep up with your monthly purchases. Everyone talks about how bad the economy is and you’re screwed with bills asking yourself, “Why me?”
This is something I try to keep in mind as I slowly approach adulthood and increasingly make more money. I must fight to ensure the future of my freedom. I’ll fight off consumer temptations to splurge on modern day conveniences, I’ll stab credit cards, I’ll drop bombs on low-interest rate loans, I’ll declare war on home mortgages, and I’ll bomb any other capitalist and consumer venture that challenges my freedom.
“There are two ways to conquer and enslave a nation. One is by sword. The other is by debt.”
– John Adams
Peace.
-Lazer
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